Public Sector banks could set up only 14,855 Automated Teller Machines (ATMs) by December, leaving an uphill task of installing close to 20,000 more cash dispensing machines by March-end to achieve the target of at least one onsite ATM in every branch.
Pursuant to Budget 2013-14 announcement, PSU banks were required to ensure an onsite ATM in all 72,340 branches by the end of the current financial year.
In March 2013, only 37,672 branches had onsite ATMs, and thus 34,668 more were to be installed.
Till December 2013, the state-owned banks could set up only 14,855 ATMs, leaving 19,813 more ATMs that need to be installed in the remaining period.
As per the roll-out schedule of ATM installations, the state-owned banks should have set up 25,950 cash dispensing machines by December 2013 or about 75 per cent of the target.
SBI had put in place 2,266 ATMs till December and has to install 2,221 more by March, 2014, according to the progress report of ATMs installation at all branches of banks.
Allahabad Bank has set up 385 ATMs and is yet to install 2,033 more.
United Bank of India has to to set up 1,044 ATMs to meet the overall target of 1,342.
Bank of India, Indian Overseas Bank, Syndicate Bank and Punjab National Bank need to set up 1,319, 1,004, 1,560 and 1,408 ATMs, respectively.
However, Bank of Baroda, IDBI Bank and Vijaya Bank have to set up only 02, 32 and 39 ATMs, respectively to meet their targetS.
There 26 public sector banks, including country’s largest lender State Bank of India and its associates.
2. Andhra Bank CMD opens 2,000th branch at Lotos Landmark.
The Andhra Bank’s 2000th branch was inaugurated by its Chairman and Managing Director CVR Rajendran at Lotos Landmark, Kedareswarapet.
Speaking on the occasion, he said that the bank had 2,000 branches across the country, besides 1,723 ATMs.
He said that Andhra Bank’s total business stood at Rs 2,34,000 crore, with deposits of Rs 1,31,000 crore. Out of 2000 branches, 1,213 branches are in Andhra Pradesh, he said, adding that there are 754 branches in the Seemandhra region, while 459 branches are in the Telangana region.
3. Bharatiya Mahila Bank plans to open 55 more branches next fiscal.
Bharatiya Mahila Bank (BMB), the first all-woman bank and a new entrant in the sector, has embarked on a mission to open 55 additional branches pan-India by the next financial year.
“We are going to touch a mark of 25 branches by end of this financial year, while for the ensuing FY, the target is to have 55 additional branches in the two-tier and unbanked cities,” Chairperson and Managing Director (CMD) of BMB Ms. Usha Ananthasubramanian told media persons.
She was in Panaji, Goa to inaugurate the 14th branch of the bank. The first branch of the bank was inaugurated by prime minister Manmohan Singh in presence of UPA Chairperson Sonia Gandhi on November 19, 2013 in Mumbai.
The bank allows deposits from everyone, but lending will be predominantly for women, the CMD said adding that lending to women is safe as compared to men.
“Women don’t default much. Often there is peer group pressure on them,” she said, adding that unlike men, women don’t divert funds for other projects and this quality makes them safe borrowers.
The bank has already tied up with Tata Motors for vehicle financing. Besides, a deal has also been inked with Institute of Chartered Accountants (ICA) for girl students to study CA.
4. Rakesh Sethi is CMD of Allahabad Bank.
Allahabad Bank has a new Chairman & Managing Director (CMD) in Rakesh Sethi. Prior to this elevation, Sethi was an executive director at Punjab National Bank. The order appointing Sethi as CMD of Allahabad Bank was issued on Tuesday. He has now assumed charge at the helm of Allahabad Bank.
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